NAHCO assures shareholders of improved returns, performance

The Chairman of Nigerian Aviation Handling Company (NAHCO), Alhaji Suleiman Yahyah, has assured market operators that it would continue to provide steady returns to shareholders in form of dividends and bonuses.

Speaking at the closing gong ceremony on the floor of the Nigerian Stock Exchange (NSE) on Wednesday, Yahyah said since the company was privatised and listed on the exchange in 2006, it has remained consistent with dividend payment.

“I want to assure shareholders that this year will not be different. We will continue to declare healthy dividend in line with our consistent dividend strategy,” he said.

According to him, the company has embarked on business diversification programme that cuts across industries and geography.

He said the company has developed strategic global alliances through its membership of variance, the global alliance of 10 reputable airport service providers operating from 112 stations in 17 countries, and the International Air Cargo Association (TIACA), which exists to promote the air cargo industry and world trade.

Yahyah noted that from a single business company, NAHCO has grown into a diversified group that is not only in cargo and passengers handling, but is also into agriculture, free trade zone and energy.

He said: “We are ready to go on the investment in the free trade zone. The licence has been secured, the partnership with International Development Ireland, had been signed, management is in place and market is looking good.

“We are also investing in our agric zone development, which is part of free trade zone, a sub-element of using our platforms in Lagos, Abuja, and Port Harcourt. Already 10 per cent of our earnings are coming from export. So we want to deepen it in view of the difficulty now in the forex market.

“ So we will fast track that investment and hopefully, that should begin show in our performance by the end of 2016. Besides, we are also are moving to other African countries. We are licensed in Senegal and Cote d D’Ivoire. Now is the time to make those investment decisions active.”

He disclosed that NAHCO invested over N10 billion in equipment, saying this equipment made the company to be about 150 per cent self-sufficiency.

He said the company has enough equipment and is ready for the new terminals coming to Lagos, Port Harcourt, Kano and Abuja Terminals.

“Our future remains to deepen our market presence, deepen our corporate governance culture and strengthen the board, which is stable and experienced and management to face the challenges in the economy.

“We also believe that our agric zone and free trade zone will provide continuous sustainability to the investors,” he said.